The Reserve Bank of India has reported that the number of mobile banking transactions in India has increased by 6.01% to 7.1 million transactions (7,169,429 transaction) for the month of September 2013, up from 6.76 million transactions (6,762,969 transactions) reported in August 2013. The total amount transacted for the month has also increased by 10.85% to Rs 1565 crore from Rs 1412.7 crore in August 2013.

The average amount per transaction for September 2013 was at Rs 2,184.26, up 4.6% from Rs 2,088.98 in August 2013. However, we believe that this transaction information shared by the RBI with us includes both payment and non payment related transactions.

RBI Sep table 2013

RBI Sep 2013

Its worth noting that May 2013 registered a significant month on month growth in both number of transactions and the amount transacted. The number of transactions increased to 6.87 million transactions from 6.33 million in April 2013, while the amount transacted increased to Rs 1.19 crore from Rs 0.99 crore in April 2013.

As a result, the average amount transacted increased to Rs 1,738.87 in May 2013, from Rs 1,558.71 in April 2013 and has been showing a growth ever since, except for June 2013 when the amount declined to Rs 1,730.52 due to a dip in the number of transactions and a minor dip in the amount transacted.

Related:

Mobile Banking In India: Transactions Vs Amount Transacted In Nov 2012
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